A number of other equities research analysts have also weighed in on WASH. Compass Point lowered shares of Washington Trust Bancorp from a buy rating to a neutral rating and set a $53.00 price target for the company. in a report on Tuesday, January 29th. Sandler O’Neill lowered shares of Washington Trust Bancorp from a buy rating to a hold rating and set a $55.00 price target for the company. in a report on Tuesday, January 29th.
WASH traded down $0.37 during trading hours on Wednesday, reaching $49.67. 14,420 shares of the stock traded hands, compared to its average volume of 26,543. The firm has a market cap of $859.54 million, a price-to-earnings ratio of 12.64 and a beta of 0.62. Washington Trust Bancorp has a fifty-two week low of $45.93 and a fifty-two week high of $63.25. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.17.
The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, March 29th.
Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Washington Trust Bancorp by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 29,000 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 300 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Washington Trust Bancorp by 9.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 282,783 shares of the financial services provider’s stock worth $15,637,000 after acquiring an additional 24,151 shares in the last quarter. Teton Advisors Inc. grew its holdings in Washington Trust Bancorp by 1.2% during the 4th quarter. Teton Advisors Inc. now owns 60,720 shares of the financial services provider’s stock worth $2,886,000 after acquiring an additional 700 shares in the last quarter. BlackRock Inc. grew its holdings in Washington Trust Bancorp by 1.9% during the 3rd quarter. BlackRock Inc. now owns 1,118,776 shares of the financial services provider’s stock worth $61,868,000 after acquiring an additional 20,580 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new position in Washington Trust Bancorp during the 3rd quarter worth $1,768,000. 59.33% of the stock is owned by institutional investors.
About Washington Trust Bancorp
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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